Lacework lands $525M financial investment as profits grows 300%

Lacework lands $525M financial investment as profits grows 300%

As the pandemic took hold in 2020, business accelerated their move to cloud services. Lacework, the cloud security start-up, remained in the right location at the right time as consumers tried to find methods to protect their cloud native workloads. The company reported that revenue grew 300% year over year for the 2nd straight year. It […] Lacework CEO Dan Hubbard says one of the reasons for such prevalent interest from financiers is the breadth of the business’s security solution. It began the year with 92 staff members and closed with over 200 with plans to double that by the end of this year. …

Sutter Hill strikes ice-cold, $2.5 B pre-market return with Snowflake’s IPO filing

Today is the day for big VC returns. We talked a bit about Sequoia’s coming substantial win with the IPO of video game engine Unity today. Now, Sequoia may in fact have the 2nd biggest return among business filing to go public with the SEC today. Sequoia strikes gold with Unity’s IPO filing Snowflake submitted its […]
Sutter Hill has actually been intimately linked to Snowflake’s early buildout and success, offering a$5 million Series A moneying back in 2012, the year of the business’s founding according to Crunchbase. Sutter Hill Ventures(aka”the fund”)owns roughly Approximately%of the firmCompany total stake, with the balance owned by other entities owned by the firmCompany management committee members. At Snowflake’s last round valuation of $12.4 billion, Sequoia’s stake is valued at$1.04 billion– a return of somewhat less than 4x. As in the past, if the stock zooms up, those returns will look all the better( and of course, if the stock crashes, well …)One final note: The pattern for these last four funding rounds is uncommon for endeavor capital: Snowflake appears to have actually”spread the love around,”having numerous companies construct up stakes in the start-up over several rounds rather than having one definitive lead. Now, Sequoia may really have the second biggest return among business filing to go public with the SEC today….